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Trump’s tariffs hit his blue-collar backers where it hurts



The blue-collar workers who cheered all the way to the ballot box in 2024
before voting Donald Trump into the Oval Office again are feeling some pain
from their favorite troll’s tariffs.

A quarterly earnings report by Home Depot revealed the building supply giant
will be raising its prices on select items to mitigate the president’s
geopolitical temper tantrum.



“For some imported goods, tariff rates are significantly higher today than
they were at this time last quarter,” Home Depot’s CFO Richard McPhail said in
an interview with The Wall Street Journal.

“So as you would expect, there will be modest price movement in some
categories, but it won’t be broad based,” he said.




 



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But that’s not all.

Even John Deere, the company that is both a billion-dollar farm equipment
maker and a cultural icon among the working class, has axed more than 200
employees in the name of cutting higher costs caused by Trump’s big, beautiful
tariffs.

“As stated on our most recent earnings call, the struggling ag economy
continues to impact orders for John Deere equipment,” the company said in a
statement obtained by Illinois Public Media.

“This is a challenging time for many farmers, growers and producers, and
directly impacts our business in the near term,” the statement concluded.



While these two companies serve as icons for blue-collar Americans, the U.S.
as a whole is starting to feel the heat. Smaller businesses and larger
corporations alike are adjusting to Trump’s changes, and while many see this as
a concern, Trump’s senior trade adviser Peter Navarro thinks differently.




 



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“Are tariffs price hikes or tax cuts?” he asked on CNBC last week. “I say
they're tax cuts.”

This, however, doesn’t seem to be the case—no matter how many times the
convicted felon says it on air.

As Daily Kos previously reported, Trump’s latest sweeping tariffs took effect
on Aug. 7 after a short-lived rollout in April.

Countries like China were hit with a 30% tariff while neighboring countries
Mexico and Canada have 25% and 35% tariff rates, respectively.

Despite the price hikes and layoffs, MAGA supporters were convinced by Trump
that a little economic turmoil for the middle and lower classes, who are more
negatively affected by rising prices, is a good thing in the long run.

We shall see how that works out for them.



Click here to check out this story on DailyKos.com.
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